Sukhani told CNBC-TV18, “I am upbeat on Exide Industries. It’s been in a trading range, but that range has come about after a very significant rally just as the Nifty went into a range after a big rally. So the next step in Exide should be on the upside. So I would be a buyer in it.”

He further added, “I assumed that IT is bottomed out and the four majors should move up and the CNX-IT was also giving all the right bullish signs. That has not happened. So I am actually confused. I would be upbeat on IT, but the market has not given enough momentum. If the market gives any signs of strength in these IT stocks we should be buying them. In any case they should not be sold at all.”